Blockchain-Driven Supply Chain Financing for SMEs in Eastern Europe

Small and medium enterprises (SMEs) represent a fundamental pillar of economic development in Eastern Europe. Yet, they frequently encounter significant obstacles in accessing financing, stemming from informational asymmetries, elevated risks, the absence of collateral, and adverse regulatory environments. This research examines the primary determinants of adopting blockchain-based supply chain financing platforms, an alternative financing solution that streamlines processes, reduces costs, and enhances transparency and security. The study develops and validates an innovative conceptual model grounded in the Unified Theory of Acceptance and Use of Technology (UTAUT). A structured questionnaire was administered to a sample of 200 respondents across seven Eastern European countries, and the model’s hypotheses were tested using Partial Least Squares Structural Equation Modeling (PLS-SEM). The research findings demonstrate that supply chain partner readiness constitutes the most influential factor affecting behavioral intention to use blockchain-based supply chain financing platforms. Additionally, performance expectancy, effort expectancy, and perceived trust were identified as significant positive determinants. Furthermore, the study highlights blockchain readiness as a crucial factor influencing actual usage behavior. These findings provide valuable insights and contribute to advancing knowledge through the utilization of an extended UTAUT framework and validation of obtained results through comparison with other relevant studies in the field.